Global Leisure Travel Market to Be Driven by Growing Emphasis on Mental Wellness During Forecast Period 2022-2027 – Designer Women

Expert Market Research’s new report titled, “Global Leisure Travel Market Report and Forecast 2022-2027”, provides an in-depth analysis of the global leisure travel market, assessing the leisure travel market based on its segments such as traveler types, sales channels, age groups, spend types and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

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Key highlights of the report include:

Market Overview (2017-2027)

  • Historical market size (2020): approximately $1,070 billion
  • Forecast CAGR (2022-2027): 7%

The growth of the leisure travel market can be attributed to the rise in per capita disposable income. Rising living standards have propelled the travel industry, thus fueling the growth of the leisure travel market. Furthermore, the market is further aided by the measures taken by private and public sector companies to promote vacations, such as paid holidays and LTC policies, among others. Moreover, the growing internet penetration unites diverse cultures through social media, which drives people to explore more, thus contributing to the expansion of the market. Additionally, growing trends of social media influence have given rise to travel blogs which are another factor positively influencing the growth of the market.

Industry definition and segmentation

Pleasure travel refers to vacations across the country or across the country taken by individuals or a group of individuals for their personal enjoyment. It allows people to rejuvenate themselves after a busy life by exploring different parts of the world and engaging in different activities. The leisure travel industry includes services such as accommodation, transportation, retail, and entertainment, among others.

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On the basis of traveler type, the market can be split into:

On the basis of sales channel, the market can be segmented into:

  • Conventional channel
  • Chanel online

The market, based on age group, can be categorized into:

  • baby boomers
  • Generation X
  • Millennials
  • Generation Z

Depending on the type of expenditure, the market can be divided into:

  • Accommodation
  • Transportation
  • Food and drink
  • Event and entertainment
  • Others

Regional leisure travel markets include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market trends

The growth of the global leisure travel market is driven by the growing penetration of online sales channels. The growing penetration of consumer electronic devices such as smartphones, tablets and laptops has led to the establishment of various travel agencies operating in online mode, thus fueling the growth of the market. Additionally, growing collaborations between banks, hotels, and airlines are attracting more customers through sales techniques such as discounted prices, cashback, and freebies, among others. Additionally, the market is expected to further grow at a significant rate in the coming years owing to greater focus on mental wellness. These are some of the factors contributing to the growth of the market.

Main market players

Major market players include JTB USA Inc., Expedia Group, Inc., Cox & Kings Ltd., CWT Global BV, American Express Company, Travel Leaders Group, and TUI AG, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.

Willie R. Golden